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Nvidia had strong Q2 earnings

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Miguel A. Rodriguez
Miguel A. Rodriguez
14 September 2020
Higher-than-expected Q2 earnings for Nvidia

The American multinational chip-maker, Nvidia, reported yesterday its Q2 earnings. The figures topped the expectations. 

Nvidia posted revenues of $3.87 billion, or $2.18 per share. The forecasts were of $1.98 per share, with a revenue of $3.65 billion.

The increase in revenues was boosted by the growth of the data center business segment. It grew 167% to $1.75 billion from last year’s figures. It was followed suit by the gaming division, which went up 26% compared to previous year numbers, to $1.65 billion. It is the first time the company's data business center generated more revenue than the gaming division.  

For the next quarter, Nvidia expects its revenue to reach $4.40 billion, ± 2%. 

Following the report, Nvidia stock price traded 0.83% higher. Since the beginning of the year, Nvidia shares gained 106%, while USA500 added 4.51%.

Sources: thestreet.com, investing.com


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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books. 

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